Welcome back to our video blog, your place for online real estate information, ideas, and how to get the most out of the market. Right now, the Orange County market is still a great market for home sellers, which is good news if you have been on the fence about selling. Limited inventory continues to drive home prices up. During the summer, the days are longer, giving more hours for buyers to look at your property.

Of course, the decision to sell your home isn't solely based on market conditions. You have to look at your personal situation to know when the right time to sell is. To help you do that, we have come up with a list of 4 things to keep in mind before planting that "For Sale" sign in your yard.

1. Be debt-free If you didn't have all of your financial ducks in a row the first time around the home buying block, you've probably learned a lot of good lessons the hard way. Put those lessons to good use and be a money-smart home buyer this time around. Check out your finances to make sure you have your savings in order before you purchase2. Equity is on your side Just a few years ago, home values plummeted. A lot of us remember those times. It sent many mortgages underwater, but thankfully, the tide has turned. If you aren't sure what your home's equity is right now, we can get you a free Competitive Market Analysis to determine the approximate value of your home. If your home has recovered enough value to provide you with 20% or more equity on your next purchase, putting that amount down on a new home will keep private mortgage insurance companies at bay.3. Does your home fit your lifestyle? Is your home currently meeting your everyday needs? Perhaps you could really use an extra room or two for your growing family. On the other hand, empty-nesters can really benefit from selling right now while rates are low in Orange County. You can sell your large home, move into a smaller one, then put the rest towards your retirement.

4. Can you afford the move? Don't get so excited about your next home that you forget the costs of leaving your current one. Hiring professional movers and being prepared for costs to improve your home for prime time showing should all play a factor. Painting your home is one of the best and cheapest improvements you can make to increase your home's worth.

Ultimately, there is no single formula for determining when to sell your home. Partner with a real estate professional you can trust to provide you with honest advice for you, your family, and your budget. If you have any questions at all, please feel free to give us a call. We would love to help you out with whatever you need!

It's been a
little while since we last spoke with you, and some key things have
shifted in the Orange & LA County real estate market. Hopefully you find
this information useful if you're buying or selling.

Normal / Stable Market:
We are entering a stable market due to an increasing inventory of
homes. We currently have a 3-month supply of homes,
compared to last June when we had a 30 day supply.

This is an
improvement over last year when people were fighting each other over
available homes. This year, if you have an attractively priced home in a
good location, you'll be able to sell it for a good price and possibly
receive multiple offers. I would also expect a slight amount of
appreciation stemming from these changes.

Less Demand:
Another thing to note is that we do not have the backlog of buyers that
we once had, and so even if your home is well-priced, in good condition
and in a good location, you may sit on the market for a few weeks. This
has nothing to do with your property being sub-par, we simply don't
have the number of buyers we used to.

Low Interest Rates:
Mortgage interest rates continue to stay very low. Rates are currently
sitting around 4.25%, but they are expected to rise by a whole
percentage point by the first quarter of 2015. If you're thinking of
buying, now would be a good time to do so because homes are very
affordable right now. If you wait, you will only be paying more and more
in your monthly mortgage payments, and that could cost you thousands of
dollars over the course of a loan.

Listing Price or Higher:
Unfortunately for buyers, you will likely have to pay the listing price
for a home, or maybe even a little extra. You may be able to negotiate,
but for the most part my clients in Los Angeles and Orange County are paying the full
listing price.

Don't Mind the Media:
There have been various reports that have been hounding the real estate
industry, and you should disregard them. They are using old, dated
information from almost 6 months ago. The same is true for real estate
websites - you should be wary to trust their information including home
listings and home pricing. You should always consult your local real
estate agent if you want the most updated information about real estate
in your area.

At the end of
the day we have a very stable market with slight appreciation (depending
on where you are). Below this text I have also included two figures that illustrate precise differences between the market of June 2013 vs. June 2014(just click on them to enlarge).

If you have any questions about this information or
about Orange & LA County real estate in general, please do not hesitate to
contact me. I am always willing to sit down with you to discuss all of
your individual needs.